Albertans have faced historic challenges in 2020.
A global health and economic crisis was made even worse when oil prices took a nosedive due to price wars and an unprecedented drop in demand.
Compared to the rest of Canada, we have been leaders in our response in support for our job creators and workers. But there’s more to be done. Albertans elected a government that would be focused relentlessly on jobs and the economy. Too many Albertans are out of work or have seen their incomes plummet.
After facing unprecedented challenges in 2020, Jason Kenney today announced a bold new economic recovery plan that will make Alberta a leader across North America as a competitive place to invest and innovate as we build our economy to be stronger, more diversified, and more resilient.
Here are some of the highlights:
- Accelerate the Job Creation Tax Cut to 8 per cent by July 1. When Albertans elected United Conservatives, the NDP had raised taxes on job creators by 20 per cent. The Job Creation Tax Cut will be accelerated ahead of schedule and dropped to an 8 per cent rate – among the most competitive in all of North America and will help spur an estimated $13 billion in growth.
Jobs estimate: 55,000 new jobs.
- A historic investment in infrastructure. United Conservatives will be making the largest investment in Alberta’s history, with a $10 billion investment to get Albertans back to work on major projects like roads, hospitals, schools, long term care homes and so much more.
Jobs estimate: More than 50,000 jobs.
- Support for the Keystone XL pipeline. Our United Conservative team was elected on a promise to fight for pipelines in every direction, north, south, east and west. With support for the Keystone XL pipeline, jobs are being created here and now.
Jobs estimate: 7,400 jobs.
The plan was developed with direct input from Alberta’s Economic Recovery Council, chaired by one of Canada’s leading economists Dr. Jack Mintz, many prominent Alberta leaders, and the Rt. Hon Stephen Harper, who led Canada successfully through the Global Financial Crisis.
It also includes the creation of Investment Alberta with a laser focus on aggressively championing investment in Alberta to the world and a new Innovation Employment Grant to diversify our province’s technology sector. A big investment of $175 million into the Alberta Enterprise Corporation will expand access to venture capital for early stage start-up companies.
We promised Albertans we would be relentless in our support for jobs, the economy and pipelines. And that’s exactly what we are doing.
